The boss of The Co-operative Group’s NOMA project says he expects a ‘successful outcome’ to its bid to sell its new headquarters.

David Pringle said the Manchester mutual has held talks with both institutional investors and property firms about the potential £150m sale and leaseback of the city centre site.

The Co-op is set to move into its new headquarters in September (pictured right), which will mark the completion of the first phase of its wider £800m NOMA project.

Mr Pringle said selling the freehold of the building, at 1 Angel Square, was always an option. He added The Co-op will also seek to attract investment for future stages of the NOMA project. Mr Pringle said: “We have been approached by a number of financial institutions interested in acquiring the property.

“It is very early in the process, but we have already opened discussions with a number of institutional investors and property companies, and have interest from overseas. We are anticipating a successful outcome to our proposals.”

The Co-op has instructed property consultants Jones Lang LaSalle and WHR to market the sale of its new headquarters.

Mr Pringle added: “We are constantly examining options for our estate. It is not unusual for us to consider the sale and leaseback of non-customer facing properties.”

The £100m new head office forms part of 20 acre NOMA scheme which will include 4m sq ft of office, residential, retail and leisure space. The Co-op owns the freehold of the quarter and has consent to carry out the £800m redevelopment of the quarter over the next 10-15 years with its partners, specialist real estate investment and advisory company Delancey, in partnership with asset management specialist Landid.

Jonathan Langstaff, from the Manchester office of Savills, said: “An asset of this scale puts Manchester on the radar and the property market will be watching with interest.”